LEASES

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

LEASES

LEASES

We own five hotels within our consolidated portfolio of hotels where we do not own the land on which the hotels reside, rather we lease the land from an unrelated third-party lessor. All of our land leases are classified as operating leases and have initial terms with extension options that range from May 2062 to October 2103. We also have two additional office space leases with terms ranging from March 2023 to December 2027.

The components of lease costs for the three months ended June 30, 2021 and 2020 were as follows:

	Three Months Ended June 30, 2021						Three Months Ended June 30, 2020
	Ground Lease		Office Lease		Total		Ground Lease		Office Lease		Total
Operating lease costs	$	1,050	$	121	$	1,171	$	1,050	$	121	$	1,171
Variable lease costs	14		83		97		8		87		95
Total lease costs	$	1,064	$	204	$	1,268	$	1,058	$	208	$	1,266

The components of lease costs for the six months ended June 30, 2021 and 2020 were as follows:

	Six months ended June 30, 2021						Six months ended June 30, 2020
	Ground Lease		Office Lease		Total		Ground Lease		Office Lease		Total
Operating lease costs	$	2,126	$	242	$	2,368	$	2,100	$	242	$	2,342
Variable lease costs	38		167		205		21		154		175
Total lease costs	$	2,164	$	409	$	2,573	$	2,121	$	396	$	2,517

Other information related to leases as of and for the six months ended June 30, 2021 and 2020 is as follows:

	June 30, 2021			June 30, 2020
Cash paid from operating cash flow for operating leases	$	2,246		$	1,951
Weighted average remaining lease term	64.2			64.2
Weighted average discount rate	7.87		%	7.86		%

LEASES

LEASES

We own five hotels within our consolidated portfolio of hotels where we do not own the land on which the hotels reside, rather we lease the land from an unrelated third-party lessor. All of our land leases are classified as operating leases and have initial terms with extension options that range from May 2062 to October 2103. We also have two additional office space leases with terms ranging from March 2023 to December 2027.

The components of lease costs for the three months ended June 30, 2021 and 2020 were as follows:

	Three Months Ended June 30, 2021						Three Months Ended June 30, 2020
	Ground Lease		Office Lease		Total		Ground Lease		Office Lease		Total
Operating lease costs	$	1,050	$	121	$	1,171	$	1,050	$	121	$	1,171
Variable lease costs	14		83		97		8		87		95
Total lease costs	$	1,064	$	204	$	1,268	$	1,058	$	208	$	1,266

The components of lease costs for the six months ended June 30, 2021 and 2020 were as follows:

	Six months ended June 30, 2021						Six months ended June 30, 2020
	Ground Lease		Office Lease		Total		Ground Lease		Office Lease		Total
Operating lease costs	$	2,126	$	242	$	2,368	$	2,100	$	242	$	2,342
Variable lease costs	38		167		205		21		154		175
Total lease costs	$	2,164	$	409	$	2,573	$	2,121	$	396	$	2,517

Other information related to leases as of and for the six months ended June 30, 2021 and 2020 is as follows:

	June 30, 2021			June 30, 2020
Cash paid from operating cash flow for operating leases	$	2,246		$	1,951
Weighted average remaining lease term	64.2			64.2
Weighted average discount rate	7.87		%	7.86		%